Ryan Gaylor, Ripple’s Director of Corporate Payments talks about official cryptocurrency of JPMorgan. He believes that the bank coins like JPM Coin don do not correct the issue of centralization in contrast to Ripple’s XRP.
XRP’s Volatility Against Fiat
As Visionary Finance witnessed FiNext Conference in the USA recently, Ryan Gaylor who is the Director of Corporate Payments at Ripple discussed various facts about Ripple, XRP and the partnership with Santander.
On the development of partnership between Ripple and Santander, Gaylor emphasized Ripple’s work with regulators at the session. A commercial bank, Santander Group has been looking forward to a day when people do not need a bank. He says that careful scrutinizing of the current financial market have later turned the bank to understand the importance of finTech solutions and partner with Ripple.
“Gaylor elaborates, how efficient the bank is making it to initiate cross-border payments. Users essentially load an app and within 40 seconds they can have funds settled cross-border and he explained how Ripple is penetrating FinTech”
Working With Regulators
To reinforce the smooth flow of global payments, Ripple is operating highly to resolve the issues of Capital tie-ups, considerably about $5 trillion. As Ripple’s lead executives often embrace their relationship with global regulators and encourage other industry players to join hands with a policymaker, Gaylor also discussed how Ripple is already working with regulators. In a previous interview, Ripple CEO discussed Facebook’s entry into the crypto industry and cautioned the social giant to work with regulators if aims to achieve success for its upcoming cryptocurrency Libra.
In his conclusive note, Gaylor proudly bragged about XRP’s vitality. He compares XRP with fiat and explained how well XRP helps companies in the cross-border transaction within 30 seconds as opposed to 2 days in case of traditional wire transfers.
As international payments have always been settled in minutes via Ripple’s underlying technologies, financial institutions and banks have always preferred XRP over fiat, he hinted.
At press time, Ripple’s native token XRP is valued as the third-largest cryptocurrency in the market and stands at $0.2560, with a market capitalization of $11,015,371,654. Notably, the trading value of XRP saw a quick surge of 0.33 percent within the past 24 hours.
As mentioned above, XRP was trading around .25 during the time of this event. The price has not done as well as many were foreshadowing in 2019. XRP has been one of the worst performing alt-coins in 2019 as Bitcoin continues to accelerate. Despite the continuous sell-offs in XRP, many industry evaluators are still calling for major spikes in XRP towards end of 2019 and early 2020. We have now seen XRP reject .30 levels multiple times which shows you how strong the resistance levels are at those points. We can see a better representation of this through an article sourced by Jono Solo regarding Ripple price predictions.
Image source – FiNext Tech Awards & Conference